About this property
Village Chase Apartments is a 36-unit multifamily community located at 2737 Kentberry Avenue in Fayetteville, North Carolina, within the Brookwood submarket. Built in 2010, the property consists of a mix of two-bedroom and three-bedroom units with multiple floor plan configurations, appealing to both families and roommate households. The asset is currently approximately 89% occupied, with scheduled move-ins bringing leased occupancy to approximately 91%.
The property is structured as a condominium regime, with ownership controlling 35 of the 36 units, providing operational control while offering a well-defined, smaller-scale investment opportunity.
Village Chase presents investors with the opportunity to acquire a newer-vintage asset where ownership has already made meaningful progress improving operations since acquisition in early 2025. Economic vacancy has improved from approximately 16% on a trailing 12-month basis to 14% on a trailing three-month annualized basis, and collections have strengthened materially, with bad debt falling to approximately 2.5% of gross potential rent — demonstrating clear positive momentum.
Current average rents are approximately:
• $1,269 for 1,100 SF two-bedroom units
• $1,246 for 1,197 SF two-bedroom units
• $1,411 for 1,318 SF three-bedroom units
Remaining economic vacancy is primarily driven by elevated concession usage rather than weak collections, creating a clear path for revenue growth as leasing incentives are reduced. In addition, current operating expenses remain above market levels, providing a secondary opportunity for NOI growth through expense normalization. The property also offers additional upside through the potential reactivation or repositioning of existing amenity spaces, including a clubhouse and pool area. Real estate taxes were reset in Cumberland County’s 2025 revaluation and are not scheduled for reassessment until 2031, and preliminary agency financing quotes are in hand.
Village Chase Apartments is being offered individually or as part of a three-property Fayetteville portfolio alongside Karen Lake and Rim Creek, providing investors flexibility to acquire either a standalone asset or scale their presence within the Fayetteville market.
SITE TOURS: September 22, 2026, & September 23, 2026
CALL FOR OFFERS: September 30, 2026
ROLLING OFFERS ACCEPTED
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Amenities and Features
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